CMS issues final benefit and payment parameters for 2024 marketplace plans

(Photo: Diego M. Radzinschi/ALM)

The Centers for Medicare & Medicaid Services early this week issued the final rule for the 2024 Notice of Benefit and Payment Parameters, which finalizes standards for issuers and marketplaces, as well as requirements for agents and brokers who use the federal platform.

“We’ve made great progress with record insured rates, but affordable health care remains a concern across the nation,” CMS Administrator Chiquita Brooks-LaSure said. “As we continue to work toward accessible and equitable health care for all Americans, the 2024 Notice of Benefit and Payment Parameters Final Rule … will make it easier for consumers to access, choose and maintain the health coverage that best fits their needs.”

Beginning in plan year 2024, marketplace plans must use providers that comply with network adequacy standards, removing a proposed exception stating that adequacy regulations don’t apply to insurers who don’t use a provider network. The final rule also requires insurers to include at least 35% of providers in any given market in their networks and extend this participation threshold to federally qualified health centers and family planning providers.